Monday, September 27, 2010

Blue chips rebound; key markets up

KUALA LUMPUR: The FBM KLCI rebounded on Monday, Sept 27 in line with the overall positive sentiment at key regional markets on optimism about the outlook of the global economic recovery after data from the US last Friday and China.

Last Friday, US stocks rose following a rebound in US business spending. Meanwhile, the National Bureau of Statistics in China said industrial profits in the republic rose 55% in the first eights months from the same period last year.

At Bursa Malaysia, the 30-stock FBM KLCI added 0.95% or 13.73 points to 1,464.92 at the mid-day break, lifted by gains including at Genting, DiGi and banking
stocks.'' Gainers led losers by 393 to 260, while 245 counters traded unchanged. Volume was 663.62 million shares valued at RM693.40 million.

Crude palm oil futures for the third month delivery rose RM47 per tonne to RM2,748; crude oil gained 6 cents per barrel to US$76.55 and gold added 84 cents an ounce to US$1,296.79.

Nikkei 225 +1.37% 9,601.77 Hang Seng Index +1.19% 22,382.11 Shanghai Composite Index +0.95% 2,616.06 Singapore's Straits Times Index +0.92% 3,121.18 Taiwan's Taiex +0.54% 8,210.40 Kospi Index +0.40% 1,854.03
The ringgit strengthened 0.03% against the greenback and was quoted at 3.0903.

Among the major gainers on Bursa Malaysia, Genting rose 19 sen to RM9.94, DiGi added 14 sen to RM24.14, Genting Malaysia 10 sen to RM3.52 while banks advanced.

Maybank was up 17 sen to RM8.75, Hong Leong Financial Group rose 13 sen to RM9.13, CIMB and AMMB added 12 sen each to RM8.21 and RM5.78, RHB Capital gained seven sen to RM7.12 and Public Bank two sen to RM12.56.

Widetec hit limit-up, suring 30 sen to 61 sen. Tan Chong was up 29 sen to RM5.95, HELP gained 21 sen to RM4.60.


Country View was the top loser, downl 19 sen to 41 sen; Glenealy lost 15 sen to RM4.50, Dutch Lady and United Malacca fell 14 sen each to RM16.50 and RM11, PLB Engineering lost 9.5 sen to 85 sen, DFZ Capital lost seven sen to RM3.63 while F&N fell six sen to RM14.74.


Karambunai was the most actively traded counter with 107.98 million shares done. The stock fell 5.5 sen to 12.5 sen after it said that it had not submitted any'' proposal to the government for an integrated resort in Sabah.




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